Office Property Appraisals

WestRock’s commercial appraisal reports are based on several factors. For office buildings, it requires looking at data from several different angles to formulate an accurate valuation. Any commercial building appraisal will be a result of these three approaches to provide the foundation for this quantitative data analysis: 

1. Market Approach: A method that values an asset based on sales of a comparable property. Also known as the sales comparison approach, it tracks recently completed sales of similar properties to determine a property’s current market appeal. 
2. Cost Approach: A method that values a property based on the replacement cost of constructing a similar property, minus depreciation, plus the site’s value. 
3. Income Capitalization Approach: A method that bases the valuation on a property’s income; the net operating income of the rent divided by its capitalization rate. 

From these methods, WestRock provides a property appraisal that is an evaluation of a property’s desirability in its current market. You can count on us for reliable and up-to-date market analysis. Using state of the art valuation technology, each of our appraisal reports is meticulously prepared. Delivering on accuracy and credibility, our reports include: 

• Area Analysis: Deduction of relevant market trends, demographic statistics, and economic indicators that impact the value of a proposed property. 
• Zoning Analysis: An in-depth evaluation of the property’s compliance with relevant zoning standards. 

• Improvements and Suggestions: Comprehensive descriptions, along with sketches and photographs, to detail a property’s optimized improvements. 

• Real Estate Taxes Statistics: This feature analyzes historical and current taxes from the tax roll to project accurate real estate taxes for the subject property. 

• Comparison Data: Detailed photos, descriptions, and analytics of comparative properties are provided for value comparison. A sales comparison grid depicts all data and any necessary adjustments. 

• Income Analysis: Evaluation of historical data to determine a property’s projected income and its requisite expenses.  

• Complete itemization of all income sources. 

• Operating Expenses: We provide an operating expense history and anticipate your expenses based on our extensive collection of comparable expense data. 

Capitalization Rate Development: Commercial loan rate surveys provide a basis for capitalization rate development.

When selecting an appraisal service, don’t go with an average county property appraiser. Choose a team that has a consummate professional as its head. The coveted MAI designation is held by appraisers who have invested substantial amounts of time and effort in their own training. Through experience, they have developed a keen awareness and understanding of market factors and the ability to analyze their impact on every type of real estate valuation. WestRock’s president and founder, Steve Romer, possesses such a distinctive designation and has instilled its values into every aspect of WestRock’s appraisal operations and its team. 

WestRock specializes in accurate and detailed appraisals from experienced, educated, and capable professionals. With integrity and pride, WestRock’s team generates appraisals to provide you with a substantial amount of relevant information to make the right investment decision for you.